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Benzinga
Benzinga
Business
Anusuya Lahiri

InterDigital Tops Q4 Consensus Aided By Incremental Revenue From New Patent License Agreements

IDCC
  • InterDigital Inc (NASDAQ:IDCC) reported a fourth-quarter FY21 revenue growth of 23% year-on-year to $111.8 million, beating the consensus of $101.5 million.
  • Recurring revenue rose 14% Y/Y to $101.6 million due to additional revenues from new patent license agreements signed in 2021.
  • Total patent royalties increased 27.7% Y/Y to $111.4 million, and Fixed-fee royalty revenue climbed 18.4% Y/Y to $91.7 million.
  • The operating profit climbed 715% Y/Y as expenses remained flattish.
  • EPS of $0.70 beat the consensus of $0.34.
  • InterDigital generated $71.2 million in operating cash flow and held $948.6 million in cash and equivalents.
  • "We closed 2021 by signing five license agreements in the fourth quarter, bringing the total number of new license agreements, including renewals, for the year up to a record of 13," said Liren Chen, CEO.
  • Outlook: InterDigital sees Q1 FY22 revenue of $95 million - $100 million versus the consensus of $99.8 million.
  • Price Action: IDCC shares traded higher by 0.10% at $68.88 on the last check Thursday.
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